Comment on the August 1 posting: Indiana Governor Mike Braun used his power to extend the Indiana gas tax holiday until September 5, citing the state’s energy emergency law. I think whether we are currently in an “emergency” is debatable. Back in April and May, maybe that was a good word to use.
Sunday, August 8, 2026, 7 PM: Here we are again, trying to make sense of the news out of the Middle East on a Sunday night. It is looking more and more like Iran is trying to “Carter” President Trump. It is also looking more and more like the markets don’t care very much, with the price of a barrel of oil vibrating around $80 the past two months.
On to gasoline, here in west Michigan, we have prices ranging from the $3.80’s to the $4.20’s. Calculating based on Friday’s closing prices for gasoline futures, $3.79 seems like a good estimate for a price floor going into Monday, and I don’t think we have enough stations in the $3.80’s to inspire a hike early in the week. By the time we get to Thursday, it could be a different ballgame, as August is usually a good month for higher prices. So, no prediction for now. -EA
